Ecora Resources has signed a $50 million deal with Moxico Resources for the Mimbula copper mine in Zambia, aimed at expanding annual production significantly. CEO Marc Bishop Lafleche described Mimbula as a promising investment due to its quality and low operating costs. The deal reinforces Ecora’s copper portfolio and highlights the mine’s considerable reserves. Additionally, African Mining Week offers a platform for mining opportunities in Africa.
Ecora Resources, based in the United Kingdom, has finalized a substantial $50 million copper streaming agreement with Moxico Resources for their Mimbula copper mine located in Zambia. The funds from this deal are earmarked for the implementation of Phase II of the mine’s expansion, which aims to increase annual copper production from 14,000 tons in 2024 to 56,000 tons by mid-2026.
Marc Bishop Lafleche, Chief Executive Officer of Ecora Resources, remarked, “Mimbula has everything we look for in an investment; it is a high-quality ore body, with low operating costs.” He emphasized that this transaction will reinforce Ecora’s copper portfolio for both the short and long term, reflecting confidence in the mine’s profitability.
The Mimbula mine boasts an estimated operational lifespan of 11 years, with reserves projected at approximately 76.4 million tons of copper. This strategic partnership serves as a critical advancement in Ecora’s growth in the copper sector, as they seek to capitalize on high-quality mining opportunities.
Additionally, African Mining Week has emerged as a leading platform for discussing mining opportunities across the continent. This event takes place in conjunction with the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town, providing an essential networking opportunity for industry stakeholders.
For more information regarding sponsorship, exhibiting, or attendance, interested parties can reach out to sales@energycapitalpower.com for further inquiries.
The $50 million copper streaming agreement between Ecora Resources and Moxico Resources marks a significant advancement in the development of the Mimbula copper mine in Zambia. This investment will significantly enhance production capacity while enhancing Ecora’s position in the copper market. Furthermore, the upcoming African Mining Week presents an excellent opportunity for industry engagement and exploration of mining ventures across Africa.
Original Source: energycapitalpower.com
